How to withdraw Paypal money without loss?

[_Jason_]

Hey everybody,

I am new to Ebay and Paypal.

I just sold 2 items on Ebay and I have around $200USD on my paypal account.

Is the money safe just sitting there?

I was wondering if anyone can tell me how to withdraw $150USD without converting to CDN and losing $ to their lower exchange rates?

I don't have a bank account linked to my paypal account either.

Thanks for your help!

[srg83]

I don't think it's possible to withdraw money without ANY loss (i.e. Paypal fees), but maybe someone can confirm that withdrawing it to a US funds account might prevent the currency exchange loss?

[dmdsoftware2]

You cannot withdraw in USD even if you have a USD bank account if the bank is a Canadian Bank. It's a Paypal thing - they want to rip you for the exchange fee.

[dog_mumu]

You cannot withdraw in USD even if you have a USD bank account if the bank is a Canadian Bank. It's a Paypal thing - they want to rip you for the exchange fee.

You can do it if the account is with RBC. See similar threads for more information or PM.

But in short, unless you plan on spending that money for something in the States, there is no point in trying too hard to avoid conversion. And if you plan on buying something with that money online, might as well keep it in Paypal account until you spend it.

[dr_torch]

And if you plan on buying something with that money online, might as well keep it in Paypal account until you spend it.

Yes, that is the only way to not get dinged with any fees. Buy something on eBay and use the money in your paypal account to pay for it.

[bubble.tea]

Might want to specify US FUNDS in your title.

Over $100 there is no fee to withdraw funds from Paypal (or has the figure changed?).

Also, you MUST withdraw to a bank account. Can you request a cheque?

[_Jason_]

Thanks for the replies everybody!

it stinks how they gain money from canadians no matter what. :mad:

I'm thinking of keeping the money there for my Ebay purchases. Is it safe to keep $200 in my account?

[Noobzilla]

Thanks for the replies everybody!

it stinks how they gain money from canadians no matter what. :mad:

I'm thinking of keeping the money there for my Ebay purchases. Is it safe to keep $200 in my account?

Um, no. It's uninsured Paypal money.
And don't pay for anything with Paypal money. Withdraw the funds, then pay by credit card for real purchase protection. Not worth saving the currency conversion fees, unless you really trust the company you're buying from.

[Deal4US]

Thanks for the replies everybody!

it stinks how they gain money from canadians no matter what. :mad:

I'm thinking of keeping the money there for my Ebay purchases. Is it safe to keep $200 in my account?

The $$ is safe siiting in there, but careful when u r buying of some joe on ebay if it turn out to be a scam, you will not get the $$ back but if you paid using CC paypal have no choice to pay you back.
that is what happened to me.

[Noobzilla]

The $$ is safe siiting in there

OK, lets say there's a keylogger on your computer, your Paypal password is stolen, and your account is drained. What can you do about it? Nothing, not worth taking Paypal to court for $200.

Or lets' say a previous buyer does a chargeback, wins the case based on one of the many flawed technicalities, and your account is drained.

Until you withdraw the funds, it's just an account with a corporation, not a financial institution.

[_Jason_]

OK, lets say there's a keylogger on your computer, your Paypal password is stolen, and your account is drained. What can you do about it? Nothing, not worth taking Paypal to court for $200.

Or lets' say a previous buyer does a chargeback, wins the case based on one of the many flawed technicalities, and your account is drained.

Until you withdraw the funds, it's just an account with a corporation, not a financial institution.

makes sense, thanks

can you pay with your credit card if your paypal has a balance in it?

[Noobzilla]

makes sense, thanks

can you pay with your credit card if your paypal has a balance in it?

No, you have to withdraw all the funds from that particular currency first.

[_Jason_]

No, you have to withdraw all the funds from that particular currency first.

ok, do you know how much they raise the currency rate?

[Noobzilla]

ok, do you know how much they raise the currency rate?

Around 2.5 to 3%.

[dmdsoftware2]

Or lets' say a previous buyer does a chargeback, wins the case based on one of the many flawed technicalities, and your account is drained.


Misinformation.

As long as the buyer has a confirmed address and seller has eligible protection (is confirmed, and has done transactions in the past), and the transaction has seller protection on it (default if these two conditions hold), then you are protected against CC chargebacks. Paypal will take the hit on any chargebacks.

"not as described" or "never received" are two other matters. "not as described" grievances almost always go in favour of the seller (even when some cases there is merit for the claim). "never received" claims are protected as long as you have proof you shipped (tracking number).

[Noobzilla]

Misinformation.

As long as the buyer has a confirmed address and seller has eligible protection (is confirmed, and has done transactions in the past), and the transaction has seller protection on it (default if these two conditions hold), then you are protected against CC chargebacks. Paypal will take the hit on any chargebacks.

"not as described" or "never received" are two other matters. "not as described" grievances almost always go in favour of the seller (even when some cases there is merit for the claim). "never received" claims are protected as long as you have proof you shipped (tracking number).

That's what Paypal would have you believe.
Too bad they don't always pay you back if they can't recover the funds from the buyer.

And does the seller protection policy say anything about protecting you from Paypal?

Paypal can instantly reverse the transaction within the first 24 hours, in which case you're SOL if you already shipped the product, even if it was to a confirmed address.

In their efforts to proactively protect themselves, they try to predict which transactions may result in chargebacks, even weeks after the fact. They open a case themselves, even without a complaint from the buyer or anyone else, give you no information on the reason for the case, then reverse the funds, even after you provide proof of delivery.

And then there's the many exceptions where seller protection doesn't apply, regardless of confirmed address and proof of delivery. Here are some examples:
Used the "request money" feature for ebay goods.

Shipped within the first 24 hours or 7 days after the sale.

Over $250 and no signature.

Over $250 and signature by someone else other than the account holder (iffy).

International delivery that is slowed down by customs and has not been delivered yet.

[gsrce]

Um, no. It's uninsured Paypal money.
And don't pay for anything with Paypal money. Withdraw the funds, then pay by credit card for real purchase protection. Not worth saving the currency conversion fees, unless you really trust the company you're buying from.

I've kept thousands in my PayPal accounts for almost 10 years and been fine, I use the funds to make purchases on ebay and other U.S. websites, and then sell items back on ebay to make the money back.

I use my PayPal accounts as a U.S. bank account, and when I'm in the U.S. I use my PayPal Debit Card to pay for the majority of my purchases, as there is no fee to charge anything to it and you'll get 1% cash back.

People really need to learn to share there experiences with others without making companies out to be murderers. Sure, you've had a negative experience with PayPal, but obviously millions of others are just fine with it or else they wouldn't still be using the service. It's the same way with any other company.

Just be smart about how you sell on ebay and where your funds come from and you'll be fine. Too many people instantly jump at the negatives of PayPal without looking at any of the positives.

[Noobzilla]

Just be smart about how you sell on ebay and where your funds come from and you'll be fine.

How can you when Paypal doesn't mention all the rules for seller protection on their own website?
I've been using it for 8 years, and I still learn new things about Paypal every time I lose a chargeback case.

Anyway, I was just pointing out that your money is not safe in a Paypal account. Just because you and millions of others have not had bad experiences, it doesn't mean it's safe to just leave thousands in an uninsured account.

[_Jason_]

I've kept thousands in my PayPal accounts for almost 10 years and been fine, I use the funds to make purchases on ebay and other U.S. websites, and then sell items back on ebay to make the money back.

I use my PayPal accounts as a U.S. bank account, and when I'm in the U.S. I use my PayPal Debit Card to pay for the majority of my purchases, as there is no fee to charge anything to it and you'll get 1% cash back.

People really need to learn to share there experiences with others without making companies out to be murderers. Sure, you've had a negative experience with PayPal, but obviously millions of others are just fine with it or else they wouldn't still be using the service. It's the same way with any other company.

Just be smart about how you sell on ebay and where your funds come from and you'll be fine. Too many people instantly jump at the negatives of PayPal without looking at any of the positives.

how do you get the paypal debit card?
I go to the states like twice a year. Can you use the debit card at stores such as the Nike factory outlet?

[gsrce]

how do you get the paypal debit card?
I go to the states like twice a year. Can you use the debit card at stores such as the Nike factory outlet?

Of course, it can be used anywhere MasterCard is accepted worldwide.

https://www.paypal.com/cgi-bin/webscr?cmd=p/acc/dc_intro-outside

I think you need to have certain qualifications to get it, like a verified address, etc.

You can also use to it withdraw cash from any Canadian bank machine or use it at any Canadian merchant who accepts MasterCard.

If you ever need help with the card once you get it, the unpublished 1-800 number for their card services (run by Chase) is below.

1-800-830-8574

[_Jason_]

Of course, it can be used anywhere MasterCard is accepted worldwide.

https://www.paypal.com/cgi-bin/webscr?cmd=p/acc/dc_intro-outside

I think you need to have certain qualifications to get it, like a verified address, etc.

You can also use to it withdraw cash from any Canadian bank machine or use it at any Canadian merchant who accepts MasterCard.

If you ever need help with the card once you get it, the unpublished 1-800 number for their card services (run by Chase) is below.

1-800-830-8574
O, I'll try to get it.
thanks for the info.